Estate of Anna Mirowski, Deceased, Ginat W. Mirowski and Ariella Rosengard, Personal Representatives - Page 96




                                       - 96 -                                         
                              6.1.4.5.  If the Company elects to                      
               exercise the Purchase Option, the Purchase Price shall                 
               be paid in cash (or in cash and a promissory note in                   
               accordance with Section 6.5) on the Transfer Closing                   
               Date.                                                                  
                              6.1.4.6.  If the Company fails to                       
               exercise the Purchase Option, the Transferor shall be                  
               permitted to offer and sell for a period of ninety (90)                
               days (the “Free Transfer Period”) after the expiration                 
               fo the Transfer Period at a price not less than the                    
               Purchase Price.  If the Transferor does not Transfer                   
               the Transferor Interest within the Free Transfer                       
               Period, the Transferor’s right to Transfer the                         
               Transferor Interest pursuant to this Section shall                     
               cease and terminate.                                                   
                              6.1.4.7.  Any Transfer of the Transferor                
               Interest made after the last day of the Free Transfer                  
               Period or without strict compliance with terms,                        
               provisions, and conditions of this Section and other                   
               terms, provisions, and conditions of this Agreement,                   
               shall be null, void and of no force or effect.                         
                         6.1.5.  Transfers to Affiliates and Family.                  
               Notwithstanding anything set forth in this Agreement to                
               the contrary, but provided that the Conditions of                      
               Transfer other than Section 6.1.6. are satisfied, any                  
               Member may at any time, and from time to time, Transfer                
               all, or any portion of, or any interest or rights in,                  
               the Member’s Membership Interest or Membership Rights                  
               to (i) any other Member; (ii) any member of the                        
               Member’s Family; or (iii) any Affiliate of the Member.                 
                         6.1.6.  Admission of Transferee as Member.                   
               Notwithstanding anything contained herein to the                       
               contrary, the transferee of all or any portion of or                   
               any interest or rights in any Membership Right shall                   
               not be entitled to become a Member or exercise any                     
               rights of a Member and shall only be admitted as a                     
               Member upon the unanimous consent of the Members.  The                 
               transferee shall be entitled to receive, to the extent                 
               transferred, only the distributions to which the                       
               transferor would be entitled.                                          
                    6.2.  Voluntary Withdrawal.  No Member shall have                 
               the right or power to Voluntarily Withdraw from the                    







Page:  Previous  85  86  87  88  89  90  91  92  93  94  95  96  97  98  99  Next 

Last modified: March 27, 2008